• Badri Narayan Rath Indian Institute of Technology Hyderabad
  • Poulomi Bhattacahrya Tata Institute of Social Sciences
Keywords: Total factor productivity, Patent, R&D intensity, Panel FGLS, Manufacturing firms


This paper investigates the impact of innovation on the performance of selected manufacturing firms in India over the period 2008-2017. Specifically, we emphasize on the role of innovation outcome in terms of number of patents on firms’ performance and consider total factor productivity growth, firms’ growth in terms of total gross sales, and profitability as indicators of firm performance. The results based on the panel Feasible Generalized Least Square estimator shows that the effect of innovation on firms’ performance is positive. Further, the impact of innovation on performance is higher for large firms compared to small firms.


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How to Cite
Rath, B., & Bhattacahrya, P. (2022). DOES INNOVATION OUTCOME INFLUENCE PERFORMANCE OF INDIAN MANUFACTURING FIRMS?. Buletin Ekonomi Moneter Dan Perbankan, 25, 85 - 102.